Multiple time frames....bad for me?

Xuanxue · Jul 9, 2008

Quote from SusanaDT:

Could you please talk a bit about your method ?

Susana

If I had to guess if he's averaging 4.5 points per contract he's scalping third and fifth waves either with or against trends; and likely from pivot to pivot. I don't gather considering his level of paranoia he's trading with any considerable volume but enough to want to covet an edge he may or may not have. The latter of which we can assume isn't price or time forecasting, since that would put him on the right side of trades and he wouldn't have to worry about "AI" Specialists or competing traders whom he assumes are just as unsure of their trading strategies as he is. To scalp with consistency and since he doesn't forecast, he'd have to rely on a decent momentum and an overbought and oversold indicator -- possibly a CCI Average and the Squeeze on stacked studies and an RSI or a Stochastic overlay. He would want to confirm the RSI or Stochastic with as reliable of a market index as possible, maybe $TRIN, $TICK and $NYAD.

Whichever is true, he trades from the 233T because it has the most distinct and smooth divergences.

But a 377T and 610T give better tells of action from the daily and 60 minute chart, and isn't that what really matters to someone with a brass set external or internal to swing trade.

Trite and moot, this endeavor of secrecy, yes?

Plenty to Google.

G'Day, Susana.

austinp · Jul 9, 2008

"Whichever is true, he trades from the 233T because it has the most distinct and smooth divergences.

But a 377T and 610T give better tells of action from the daily and 60 minute chart, and isn't that what really matters for someone with a brass set external or internal to swing trade."

Pick any timeframe chart that suits your approach. Use any chart tools (or price action i.d.) that meets your fancy. You have now established your definition of reading price direction.

Now pick a smaller price frame chart setting. Take sell signals only from this faster chart when the slower chart is bearish to your definition. Take buy signals only from the faster chart when the slower chart is bullish to your definition.

Times when both charts diverge = idle... no trades of any kind.

Trying to catch every market wave, wiggle and jiggle will degrade overall results, you will most definitely make less money thru over-trading. That is a universal law for ALL methods, systems or approaches with zero exception.

*

When your slower chart is changing direction and/or early in a trend move, taking signals off the fast chart in harmony with that is (relatively) easy money.

rolextrader · Jul 9, 2008

Quote from Xuanxue:

If I had to guess if he's averaging 4.5 points per contract he's scalping third and fifth waves either with or against trends; and likely from pivot to pivot. I don't gather considering his level of paranoia he's trading with any considerable volume but enough to want to covet an edge he may or may not have. The latter of which we can assume isn't price or time forecasting, since that would put him on the right side of trades and he wouldn't have to worry about "AI" Specialists or competing traders whom he assumes are just as unsure of their trading strategies as he is. To scalp with consistency and since he doesn't forecast, he'd have to rely on a decent momentum and an overbought and oversold indicator -- possibly a CCI Average and the Squeeze on stacked studies and an RSI or a Stochastic overlay. He would want to confirm the RSI or Stochastic with as reliable of a market index as possible, maybe $TRIN, $TICK and $NYAD.

Whichever is true, he trades from the 233T because it has the most distinct and smooth divergences.

But a 377T and 610T give better tells of action from the daily and 60 minute chart, and isn't that what really matters to someone with a brass set external or internal to swing trade.

Trite and moot, this endeavor of secrecy, yes?

Plenty to Google.

G'Day, Susana.

Since this guess is so far removed from reality, Ill set the record straight. The only indicators on my 233 tick chart are two EMAs set at 9 and 20. Simple, easy and stressless and no scalping I might add.

JSSPMK · Jul 9, 2008

Quote from austinp:


When your slower chart is changing direction and/or early in a trend move, taking signals off the fast chart in harmony with that is (relatively) easy money.

In my experience this is 100% on the money! TY!

Xuanxue · Jul 9, 2008

Quote from rolextrader:

Since this guess is so far removed from reality, Ill set the record straight. The only indicators on my 233 tick chart are two EMAs set at 9 and 20. Simple, easy and stressless and no scalping I might add.

Oh come on give me a touch of credit. Pray tell how is it possible to NOT scalp EMA crossovers at the third and fifth waves amid all that noise?

Rhetorical, BTW.

Have a good one.

rolextrader · Jul 9, 2008

Quote from Xuanxue:

Oh come on give me a touch of credit. Pray tell how is it possible to NOT scalp EMA crossovers at the third and fifth waves amid all that noise?

Rhetorical, BTW.

Have a good one.

Sorry, but you made another wrong assumption (you're batting 1000). I don't use the EMA for crossover signals to enter or exit, but to simply give me an overview of the trends.

I've made one trade today, a buy at 1275.75 and I'm still in it. No scalping, no anxiety, no fear.

Why do people insist on making trading so complicated that they go into analysis paralysis?

MandelbrotSet · Jul 9, 2008

Quote from JSSPMK:



In my experience this is 100% on the money! TY!

This is my experience also.

Best regards to all, the making of money should bring happiness, not discord.

Good trading today.

Xuanxue · Jul 9, 2008

Quote from rolextrader:

Sorry, but you made another wrong assumption (you're batting 1000). I don't use the EMA for crossover signals to enter or exit, but to simply give me an overview of the trends.

Why do people insist on making trading so complicated that they go into analysis paralysis?

For 4.5 points, AP, as you put it, is not worth it. For a couple of hundred on the board with some volume behind it bleeding every last bloody cent, another matter altogether.

Nice to meet another, but because I'm up on indicators doesn't mean I must rely on them. Quid pro quo, touche' on the average, et al.

I will say, however, I didn't do too bad with regards to NLP; and your cooperation likely made a novice lass content for the time being indeed.

Sadly it's time to hear a different tune. Something on about ticks and dollars.

After the bell then.

fearless9 · Jul 9, 2008

Quote from austinp:

"Whichever is true, he trades from the 233T because it has the most distinct and smooth divergences.

But a 377T and 610T give better tells of action from the daily and 60 minute chart, and isn't that what really matters for someone with a brass set external or internal to swing trade."

Pick any timeframe chart that suits your approach. Use any chart tools (or price action i.d.) that meets your fancy. You have now established your definition of reading price direction.

Now pick a smaller price frame chart setting. Take sell signals only from this faster chart when the slower chart isbearish to your definition. Take buy signals only from the faster chart when the slower chart is bullish to your definition.

Times when both charts diverge = idle... no trades of any kind.

Trying to catch every market wave, wiggle and jiggle will degrade overall results, you will most definitely make less money thru over-trading. That is a universal law for ALL methods, systems or approaches with zero exception.

*

When your slower chart is changing direction and/or early in a trend move, taking signals off the fast chart in harmony with that is (relatively) easy money.

Correct AP,
But it does not require two frames unless of course you believe that it does.

f9

JSSPMK · Jul 9, 2008

Quote from fearless9:

Correct AP,
But it does not require two frames unless of course you believe that it does.

f9

Is it so hard to understand that what is relative to you is not necessarily so to another person? Somebody might enter this conversation & tell us that we don't need a chart to trade "unless we believe that it does". Are you going to accept his opinion as THE right way if it's non relative to your own personal experience? Hopefully we are all rational adults here that can agree to disagree

All the best!